ISABELLA BANK Corp Files Definitive Proxy Statement

TL;DR

<b>ISABELLA BANK Corp has filed its Definitive Proxy Statement for the fiscal year ending December 31, 2023.</b>

AI Summary

ISABELLA BANK Corp (ISBA) filed a Proxy Statement (DEF 14A) with the SEC on March 25, 2024. ISABELLA BANK Corp filed a Definitive Proxy Statement (DEF 14A) on March 25, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal executive offices are located at 401 North Main Street, Mt Pleasant, MI 48858. The filing includes data related to equity awards granted in 2023, 2022, and 2021 for both PEO and Non-PEO members. ISABELLA BANK Corp was formerly known as IBT BANCORP INC /MI/ until July 2, 1992.

Why It Matters

For investors and stakeholders tracking ISABELLA BANK Corp, this filing contains several important signals. This DEF 14A filing provides shareholders with essential information regarding the company's governance, executive compensation, and matters to be voted on at the upcoming shareholder meeting. Shareholders can review details on equity awards granted to executives and non-executives over the past three fiscal years, offering insight into compensation strategies and potential future dilution.

Risk Assessment

Risk Level: low — ISABELLA BANK Corp shows low risk based on this filing. The filing is a routine DEF 14A, indicating standard corporate disclosure rather than immediate financial distress or significant new risks.

Analyst Insight

Review the executive compensation details and any proposed shareholder resolutions to understand potential impacts on shareholder value and corporate governance.

Key Numbers

• 20240325 — Filing Date (Date the DEF 14A was filed)
• 20240507 — Period of Report (Conformed period of report)
• 1231 — Fiscal Year End (Company's fiscal year end)
• 6022 — SIC Code (Standard Industrial Classification for State Commercial Banks)

Key Players & Entities

• ISABELLA BANK Corp (company) — Filer name and company name
• 401 NORTH MAIN STREET (location) — Business and mailing address
• MT PLEASANT (location) — City for business and mailing address
• MI (location) — State for business and mailing address
• 48858 (location) — ZIP code for business and mailing address
• IBT BANCORP INC /MI/ (company) — Former company name
• 19920703 (date) — Date of name change from IBT BANCORP INC /MI/
• 20240325 (date) — Filing date

FAQ

Industry Context

ISABELLA BANK Corp operates within the State Commercial Banks industry (SIC 6022).

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 14(a), which governs the solicitation of proxies.

What Investors Should Do

1. Analyze the executive compensation packages detailed in the proxy statement.
2. Review any proposals or resolutions presented for shareholder vote.
3. Note the company's historical name changes and incorporation state (Michigan).

Key Dates

• 2024-03-25: Filing Date — Definitive Proxy Statement (DEF 14A) filed.
• 2024-05-07: Period of Report — The period for which the proxy statement is reporting.

Year-Over-Year Comparison

This is a DEF 14A filing, which is a standard annual disclosure. No prior filing data is available in this extract for comparison.

Filing Documents

• isba-20240322.htm (DEF 14A) — 289KB
• isba-20240322_g1.jpg (GRAPHIC) — 820KB
• isba-20240322_g2.jpg (GRAPHIC) — 69KB
• isba-20240322_g3.jpg (GRAPHIC) — 191KB
• isba-20240322_g4.jpg (GRAPHIC) — 59KB
• isba-20240322_g5.jpg (GRAPHIC) — 66KB
• isba-20240322_g6.jpg (GRAPHIC) — 508KB
• isba-20240322_g7.jpg (GRAPHIC) — 217KB
• 0000842517-24-000065.txt (&nbsp;) — 5109KB
• isba-20240322.xsd (EX-101.SCH) — 3KB
• isba-20240322_def.xml (EX-101.DEF) — 3KB
• isba-20240322_lab.xml (EX-101.LAB) — 89KB
• isba-20240322_pre.xml (EX-101.PRE) — 48KB
• isba-20240322_htm.xml (XML) — 60KB

From the Filing

isba-20240322 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A Proxy Statement Pursuant to Section 14(a) of the Securities Exchange Act of 1934 (Amendment No. ) Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material Under 240.14a-12 ISABELLA BANK CORP ORATION (Name of Registrant as Specified In Its Charter) (Name of Person(s) Filing Proxy Statement, if other than the Registrant) Payment of Filing Fee (Check the appropriate box): No fee required. Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11. 1) Title of each class of securities to which transaction applies: 2) Aggregate number of securities to which transaction applies: 3) Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined): 4) Proposed maximum aggregate value of transaction: 5) Total fee paid: Fee paid previously with preliminary materials. Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing. 1) Amount Previously Paid: 2) Form, Schedule or Registration Statement No.: 3) Filing Party: 4) Date Filed: ISABELLA BANK CORPORATION 401 N. Main St. Mt. Pleasant, Michigan 48858 NOTICE OF THE ANNUAL MEETING OF SHAREHOLDERS To Be Held May 7, 2024 Notice is hereby given that the Annual Meeting of Shareholders of Isabella Bank Corporation will be held on Tuesday, May 7, 2024 at 5:00 p.m. Eastern Daylight Time, at the Courtyard by Marriott, 2400 East Campus Drive, Mt. Pleasant, Michigan. The meeting is for the purpose of considering and acting upon the following items of business: 1. The election of three directors. 2. To ratify the appointment of Rehmann Robson LLC as the independent registered public accounting firm for the year ending December 31, 2024. 3. To transact such other business as may properly come before the meeting, or any adjournment or adjournments thereof. The Board of Directors has fixed March 15, 2024 as the record date for determination of shareholders entitled to notice of, and to vote at, the meeting or any adjournments thereof. By order of the Board of Directors Debra Campbell, Secretary Dated: March 25, 2024 ISABELLA BANK CORPORATION 401 N. Main St. Mt. Pleasant, Michigan 48858 PROXY STATEMENT General Information This Proxy Statement is furnished in connection with the solicitation of proxies, to be voted at our Annual Meeting of Shareholders (the "Annual Meeting") which is to held on Tuesday, May 7, 2024 at 5:00 p.m. at the Courtyard by Marriott, 2400 East Campus Drive, Mt. Pleasant, Michigan, or at any adjournment or adjournments thereof, for the purposes set forth in the accompanying Notice of the Annual Meeting of Shareholders and in this Proxy Statement. This Proxy Statement has been mailed on March 25, 2024 to all holders of record of common stock as of the record date. If a shareholder's shares are held in the name of a broker, bank, or other nominee, then that party should give the shareholder instructions for voting the shareholder's shares. Voting at the Meeting We have fixed the close of business on March 15, 2024 as the record date for the determination of shareholders entitled to notice of, and to vote at, the Annual Meeting and any adjournment or adjournments thereof. We have only one class of common stock and no preferred stock. As of March 15, 2024, there were 7,498,626 shares of stock outstanding. Each outstanding share entitles the holder thereof to one vote on each separate matter presented for vote at the meeting. You may vote on matters that are properly presented at the Annual Meeting by attending the meeting and casting a vote, signing and returning the enclosed proxy, voting on the internet, or voting by phone. You may change your vote or revoke your proxy at any time before it is voted at the Annual Meeting by filing with Isabella Bank Corporation (the "Corporation") an instrument revoking it, filing a duly executed proxy bearing a later date (including a proxy given over the internet or by phone) or by attending the meeting and electing to vote in person. You are encouraged to vote by mail, internet, or phone. A quorum must be present in order to hold the Annual Meeting. A quorum is present if a majority of the shares of common stock entitled to vote are represented in person or by proxy. If you execute and return a proxy, those shares will be counted to determine if there is a quorum, even if you abstain or fail to vote

View Full Filing

View this DEF 14A filing on SEC EDGAR